Correlation Between Khiron Life and AGNC INVESTMENT
Can any of the company-specific risk be diversified away by investing in both Khiron Life and AGNC INVESTMENT at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Khiron Life and AGNC INVESTMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Khiron Life Sciences and AGNC INVESTMENT, you can compare the effects of market volatilities on Khiron Life and AGNC INVESTMENT and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Khiron Life with a short position of AGNC INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Khiron Life and AGNC INVESTMENT.
Diversification Opportunities for Khiron Life and AGNC INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Khiron and AGNC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Khiron Life Sciences and AGNC INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGNC INVESTMENT and Khiron Life is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Khiron Life Sciences are associated (or correlated) with AGNC INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGNC INVESTMENT has no effect on the direction of Khiron Life i.e., Khiron Life and AGNC INVESTMENT go up and down completely randomly.
Pair Corralation between Khiron Life and AGNC INVESTMENT
If you would invest 886.00 in AGNC INVESTMENT on October 19, 2024 and sell it today you would earn a total of 36.00 from holding AGNC INVESTMENT or generate 4.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Khiron Life Sciences vs. AGNC INVESTMENT
Performance |
| Timeline |
| Khiron Life Sciences |
| AGNC INVESTMENT |
Khiron Life and AGNC INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Khiron Life and AGNC INVESTMENT
The main advantage of trading using opposite Khiron Life and AGNC INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Khiron Life position performs unexpectedly, AGNC INVESTMENT can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AGNC INVESTMENT will offset losses from the drop in AGNC INVESTMENT's long position.| Khiron Life vs. Apple Inc | Khiron Life vs. Apple Inc | Khiron Life vs. Apple Inc | Khiron Life vs. Apple Inc |
| AGNC INVESTMENT vs. ecotel communication ag | AGNC INVESTMENT vs. Khiron Life Sciences | AGNC INVESTMENT vs. Zoom Video Communications | AGNC INVESTMENT vs. The Japan Steel |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stocks Directory module to find actively traded stocks across global markets.
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